Price Competition and Market Structure: The Impact of Cartel Policy on Concentration in the UK
研究了英国废除卡特尔后，价格竞争强度对制造业市场集中度的影响，发现竞争加剧了集中度，尤其在广告和研发密集型行业。
This paper examines the impact of firms’ conduct on market structure. It studies the evolution of concentration in UK manufacturing following the abolition of cartels using a theoretical framework based on Sutton’s theory of market structure and a panel data set of four‐digit industries over 1958–1977. The econometric results suggest that the intensity of price competition has a positive effect on concentration in exogenous sunk cost industries as well as in advertising‐intensive and R&D‐intensive industries. The concentration‐market size relationship, while negative in exogenous sunk cost industries, breaks down in industries with high advertising or R&D intensity.